Circle to Acquire Tazapay for $400 Million in Stablecoin Payments Expansion

Circle has agreed to acquire Singapore-based payments infrastructure company Tazapay for $400 million in stock, expanding the USDC stablecoin issuer’s global cross-border payments network.

According to a regulatory filing, Circle will determine the number of shares issued using its volume-weighted average closing price over the 20 trading days before the transaction closes. The final purchase price will be adjusted for Tazapay’s debt, cash and transaction-related expenses.

Tazapay provides business-to-business payment infrastructure connecting financial institutions and payment companies with more than 60 banking and fintech partners. Its network enables businesses to collect and send funds through local payment rails across more than 100 markets.

Circle said Tazapay processes over $25 billion in annualized payment volume, with roughly 60% of transactions already involving stablecoins. In March, Tazapay said it served more than 1,000 companies and fintech firms across 30 countries after doubling revenue for three consecutive years.

The company holds licenses or registrations in Singapore, Canada, Australia and the United States, while seeking additional approvals in the European Union, Hong Kong and the United Arab Emirates.

The acquisition could strengthen Circle’s ability to convert stablecoins such as USDC into local currencies. While stablecoins can move globally across blockchain networks, local payouts still depend on regulated intermediaries, banking relationships and domestic payment infrastructure.

Circle and Tazapay already have an established relationship. Tazapay has helped develop the Circle Payments Network since 2025, while Circle Ventures previously led an extension of Tazapay’s Series B funding round.

The $400 million transaction adds to Circle’s growing acquisition portfolio. Previous deals include Hashnote, Web3 infrastructure provider Cybavo, payments software firm Elements and blockchain consensus technology company Malachite. Circle also acquired nearly 1,000 blockchain patents from IBM in July.

The Tazapay deal is expected to close in 2027, subject to regulatory approvals, including clearance from the Monetary Authority of Singapore. Tazapay’s services, pricing and customer support are expected to remain unchanged until completion.

Circle shares fell 2.7% to $99.30 on Tuesday but remain up more than 25% year-to-date.